What steps do you take in starting a new internet business?

[billy]

Alright, I want to start a service online. I am very new to this so I need several peoples opinion.

What steps do you take in starting a new internet business?

Such as:

Competition - I know in "The Fastlane" it says to not worry about competition. Well I think it is something I should look into before I start for ex. starting a social network may be a waste of time due to the fact that everyone is soooo committed to Facebook.

Maybe thats a bad ex. but basically, what do you look for in competition?

How do you find the problems of others that you could solve?

Just to sum all of this up... If you decided you wanted to start a service business what are all the steps you would take, from finding something scalable all the way to marketing it? Please try to explain in as much detail.

Thank you in advance!

 

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[domular]

Start with this video MJ did YouTube - ‪FastlaneMJ's Channel‬‏.

Look for a hungry crowd as Gary Halbert said. If they aren't hungry for what you sell start over.

Next look where there are already businesses serving that crowd but not doing a very good job or figure out a way to do it better.

Look for a high profit, high ticket product or service. It's just easier, as they say it takes just as much effort to sell a $100 item as a $10 and the customers that are willing to spend $100 won't create near the number of headaches.

You need to be able to reach the target market. Do they hang out in forums, are there magazines you could advertise in that focuses on the market. If you can't find them easily and tell them what you've got your business might as well not exist.

If you're selling online can you rank well for words that will bring you traffic, this is exactly how MJ made his fortune limo.com duhhhhhhh. Whatever he paid for it turned out to be a bargain.

 

[FastNAwesome]

Start with this video MJ did YouTube - ‪FastlaneMJ's Channel‬‏.

Look for a hungry crowd as Gary Halbert said. If they aren't hungry for what you sell start over.

Next look where there are already businesses serving that crowd but not doing a very good job or figure out a way to do it better.

Look for a high profit, high ticket product or service. It's just easier, as they say it takes just as much effort to sell a $100 item as a $10 and the customers that are willing to spend $100 won't create near the number of headaches.

You need to be able to reach the target market. Do they hang out in forums, are there magazines you could advertise in that focuses on the market. If you can't find them easily and tell them what you've got your business might as well not exist.

If you're selling online can you rank well for words that will bring you traffic, this is exactly how MJ made his fortune limo.com duhhhhhhh. Whatever he paid for it turned out to be a bargain.

Very well said, not much to add, but here goes...

Maybe thats a bad ex. but basically, what do you look for in competition?

I like to look for their flaws, but also to look at what each of them does great, in an effort to take the best from everyone.

I also like to look at how and where they market themselves.

How do you find the problems of others that you could solve?

There are many ways, one of them being when you yourself have a particular problem, and then realize many others do as well.

Maybe also on specialized forums...see...you want to create an internet startup and need all the info. So there's a need on your part. If I were to find 10 more posts like this, it would mean I'm on to something, and that info product or service called maybe "Internet Service Blueprint" could be sold to all of ya, with a good pitch.


It's just a simplified example...

 

[comment]

Start with this video MJ did YouTube - ‪FastlaneMJ's Channel‬‏.

I really wish he had a video tour of his house, that thing is massive.

 

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